Some of us on here have been warning for almost a year to get out and get another job because the execs simply don’t give 2 schitts about you as employees…the latest chaos I’m hearing through the grapevine as ION exits Ch 11 and fooks over the employees one last time is the final, sad end to a once decent company. What a shame.
13 replies (most recent on top)
TGS is not retaining any Ion employees. They will make job offers to who they think they need to go along with the purchased assets. It might take a while for them to figure out what they bought and what they are going to do with it before extending offers. People are not part of the asset purchase.
So many delusional people posting about how they will have continued employment with TGS. It is not good to live in denial about current or realistic future problems. The odds are less than 50% that you will stay employed with TGS. Believe what you want.
This guy constantly posting about how ion employees are on the chopping block, should have left, careers are finished blah blah blah. I think In reality this person is jealous at the fact a good number of ion employees will be going to tgs and reigniting their careers where as he is now earning half what he used to at ion in a data science job!
Clearly some people don’t know how business works. There will be redundancies at TGS with the new ION employees. The ION and TGS employees will have to reapply for their positions. This might not be right away, maybe in a year or so once the recession hits.
People who have been through bankruptcies know this and left long ago.
It’s the employees who are naive to the process that are going to get burned.
No matter how rosy a picture TGS paints for the ION employees, there will be cuts.
500 employees! Maybe 5 years ago! Nice try but tgs are only buying imaging and processing - and they’re taking about 50% of staff you sour grape
Ion Geophysical has approximately 500 total employees. Only about 10.5%-11% will be retained by TGS, at least temporarily. So, just under 90% of you will become unemployed. Do you feel lucky? Well, do you?
TGS is only buying assets, no company control and no contractual obligations. They will pick the projects and backlog that's advantageous, assuming the client allows it and doesn't cancel. They will make job offers only to the people they seem critical. They will not over extend themselves.
Yep agreed, there’s some pretty bitter posters on here most of which were cast aside by ion over last few years
…as for this post, whose pleasure is served saying i told you so except the poster’s? Sick.
…unlikely that the norwegians are traveling along the path of the peebler/hanson bigger than life enron model. It has kept debt low and its powder dry and likely picked up assets penny on the dollar. As for the 65, most are likely working off residual backlog and might be marked and ousted over a year or two. A few will earn in against the odds.
TGS seem to be overconfident and making the kind of investments that ended up burning ion when they were flying high and bought oceangeo and were hiring like crazy 10 years ago. Once this Russia situation ends and recession hits, tgs may find them selves In deep and having to layoff again
I am glad some Ion employees are transferring to TGS in the buyout deal, but it still stinks that they are almost restarting their careers because of incompetence by Hanson and Usher. Hopefully the “new” TGS employees will be retained through the coming recession.
confirmed by the tgs public takeover meeting the other day that anyone could tune in to, at least 65 will be given jobs at tgs - so actually - despite everyone saying we should have left ages ago and we are fools to stick around , those 65 will have a new start having never been layed off though all ions troubles! Oh and by the way I’m sorry you are still bitter at being told to leave in 2015 ;-)